Westbourne Investment Advisors Inc. Increases Holdings in Sanderson Farms, Inc. (NASDAQ:SAFM)

Westbourne Investment Advisors Inc. lifted its position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 24.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,495 shares of the company’s stock after buying an additional 1,480 shares during the period. Westbourne Investment Advisors Inc.’s holdings in Sanderson Farms were worth $1,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SAFM. Advisory Services Network LLC grew its position in Sanderson Farms by 711.8% during the 2nd quarter. Advisory Services Network LLC now owns 276 shares of the company’s stock worth $38,000 after acquiring an additional 242 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Sanderson Farms by 441.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 298 shares of the company’s stock worth $41,000 after acquiring an additional 243 shares during the last quarter. Oakworth Capital Inc. bought a new position in Sanderson Farms during the 2nd quarter worth approximately $64,000. C M Bidwell & Associates Ltd. bought a new position in Sanderson Farms during the 2nd quarter worth approximately $74,000. Finally, Pearl River Capital LLC bought a new position in Sanderson Farms during the 2nd quarter worth approximately $92,000. 92.27% of the stock is currently owned by institutional investors.

Shares of SAFM stock traded down $2.27 during trading hours on Tuesday, reaching $132.25. The company’s stock had a trading volume of 12,061 shares, compared to its average volume of 286,964. The stock has a market capitalization of $3.14 billion, a P/E ratio of 43.90 and a beta of 0.72. Sanderson Farms, Inc. has a one year low of $93.98 and a one year high of $158.32. The firm’s fifty day simple moving average is $149.58 and its 200 day simple moving average is $142.99. The company has a current ratio of 2.94, a quick ratio of 1.41 and a debt-to-equity ratio of 0.02.

Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 29th. The company reported $2.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.43). Sanderson Farms had a return on equity of 2.86% and a net margin of 0.99%. The business had revenue of $945.10 million during the quarter, compared to the consensus estimate of $970.10 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. Sanderson Farms’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that Sanderson Farms, Inc. will post 4.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.32 per share. The ex-dividend date was Monday, September 30th. This represents a $1.28 annualized dividend and a dividend yield of 0.97%. Sanderson Farms’s dividend payout ratio is presently 42.38%.

In related news, Director Robert C. Khayat sold 1,726 shares of Sanderson Farms stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $155.34, for a total transaction of $268,116.84. Following the sale, the director now directly owns 10,918 shares in the company, valued at $1,696,002.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $153.86, for a total value of $76,930.00. Following the sale, the director now owns 10,366 shares in the company, valued at $1,594,912.76. The disclosure for this sale can be found here. Insiders have sold 12,226 shares of company stock worth $1,896,747 over the last 90 days. 5.55% of the stock is currently owned by corporate insiders.

SAFM has been the topic of several recent research reports. ValuEngine lowered Sanderson Farms from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. BidaskClub lowered Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “buy” rating and set a $141.00 price objective on the stock in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $126.00.

Sanderson Farms Company Profile

Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice-packed, chill-packed, bulk-packed, and frozen chicken primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken into export markets.

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Institutional Ownership by Quarter for Sanderson Farms (NASDAQ:SAFM)

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